BANGKOK, Nov 16 (Reuters) - Southeast Asian stock markets
fell on Monday as weakness in global markets after Friday's
attacks in Paris prompted early sell-offs across exchanges,
sending the Philippine index to a near three-month low and the
Indonesian benchmark to the lowest in more than a month.
The Philippine composite index dropped 2.5 percent to
the lowest since Aug. 25, with the 30 stocks measured by the
gauge all down. Among the top losers, Energy Development Corp
and SM Prime Holdings Inc both shed about
five percent.
The Jakarta composite index declined about 1 percent
to the lowest since Oct. 6, led lower by shares of Astra
International and Bank Mandiri amid selling
led by foreign investors, Thomson Reuters data showed.
In Bangkok, the key SET index eased 0.5 percent,
recovering some early losses. Domestic funds appeared to be
collecting battered stocks, brokers said.
"External pressure may lead Thai stocks to trade on the
downside today," said broker Phillip Securities, forecasting
support for the SET index at 1,360.
"But we believe any market dips could possibly trigger
long-term equity fund and retirement mutual fund purchases to
take advantage of personal income tax deductions by year end,"
it said.
The Paris attacks also put downward pressure on shares
related to the tourism sector which expected to see potential
falls in foreign tourists, brokers said.
Shares of hotelier Central Plaza Hotel Pcl were
down 1.2 percent and airline firm Thai Airways International
down 0.5 percent.
Data released early on Monday showed Thailand's economy
expanded 2.9 percent in the third quarter from a year earlier,
better than expected, with tourism revenues among key drivers.
Indexes in Singapore and Malaysia both
slipped to lows hit in early October while Vietnam pulled
lower after two successive days of gains.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0434 GMT
Market Current Prev Close Pct Move
Singapore 2897.18 2925.68 -0.97
Kuala Lumpur 1657.50 1658.91 -0.08
Bangkok 1376.16 1382.46 -0.46
Jakarta 4430.50 4472.84 -0.95
Manila 6726.11 6897.77 -2.49
Ho Chi Minh 606.89 611.27 -0.72
(Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)